These are companies that are priced at significant discounts to their underlying business value and are low risk (meaning low risk of permanent loss of capital, not volatility). (thegreenswan.org)
If the manager is exposing the investor to more downside risk in bear markets then they are increasing the behavioral risk of permanent loss for the investor. (orcamgroup.com)
There is high risk of permanent loss of capital when we buy into a company that is over valued. (sleepycapital.com)